Andrew Love: Surrounded by Liars and Thieves

The collapse of Rothwells Bank in late 1988 signalled the beginning of the end for WA inc.In this episode, James H Stewart sits down with Andrew J Love, one of Australia’s most experienced former restructuring advisers and non-executive directors, for a deep dive on the collapse of Rothwells Bank and the beginning of the end for WA Inc in the late 1980's.Andrew spent nearly three decades as a senior partner at Ferrier Hodgson, and at just 34 years old, found himself advising the Western Australian Premier, Peter Dowding during one of the most politically charged and financially catastrophic episodes of the WA Inc era.Rothwells, was a merchant bank controlled by Laurie Connell, was authorised to take deposits from the public and ultimately collapsed owing enormous sums to creditors — many of them everyday “mum and dad” investors. The failure became a defining moment in Australian corporate and political history, and a formative experience for Andrew’s approach to risk, governance and transparency.The discussion traces how that baptism of fire shaped Andrew’s career — from leading mining restructurings, to stepping into boardrooms across mining, oil and gas, property, aged care and infrastructure.Andrew also reflects on his time as Director of multiple companies in the ming sector through volatile commodity cycles, offering candid insights into why boards fail, how cycles repeat, and what experienced directors learn to watch for.The conversation also takes an unexpected but revealing turn into the world of modern art. Andrew shares how he and his wife Amanda became deeply involved in the contemporary art community, including his time as Chair of the Museum of Contemporary Art in Sydney, and how the diversity of the modern art community help shape his thinking in the boardroom.This episode is a masterclass in lived experience — from advising governments in moments of crisis, to navigating boardrooms through boom and bust, and understanding why humility, scepticism and independence of thought matter more than ever in business.⚠️ Important DisclaimerThis podcast is provided for general information and discussion purposes only. The views expressed by the host and guest are personal in nature and reflect individual experiences at the time. Nothing in this episode constitutes, or should be relied upon as, legal, financial, investment, accounting or professional advice. Listeners should seek their own independent advice before making any decisions based on matters discussed in this podcast.Any references to historical events, companies or individuals are based on publicly available information and personal recollections, and are shared for educational purposes only. Hosted on Acast. See acast.com/privacy for more information.